It is now a “hot” stock and is garnering more and more attention every day.

We bought our first position on December 4th, 2015, and continuously added to our positions since then.

Here is what is has done since our first purchase:

Eventually, our exposure in some of our aggressive accounts reached over a 10% allocation. We cut our positions in half and now ostensibly own our exposure to Shopify for free. This is how you add “alpha” to your investments. Not by under-weighting and over-weighting positions versus their benchmark allocations.

Yesterday, Shopify (SHOP US) powered to new highs. Shopify is a small cap stock, but we have long been intrigued by its incredible potential and ability to successful grow its sales platform. As such, it is one of our biggest equity holdings and has delivered tremendous alfa to our equity portfolios.